Saudi producer down adjusted May shipment PP, PE offers to Vietnam

It is reported that a major Saudi Arabia producer has revised May shipment offers for PP and PE to Vietnam following the stiff resistance on the previous price list.

The adjusted offers and changes compared to the last announcement on 25 April are shown in the following table: 

Apparently, availability for LLDPE film is rather comfortable this round, sources reported while other grades remain tight, especially for homo-PP cargoes, which explains the unchanged price for this cargo. 

“But the market is frozen. Customers are not active in placing bids amid renewed concern on the USA-China trade war. We are collecting bids at the moment,” a distributor source said.

Market players are waiting for a clearer indication of the demand condition in China to gauge the possible trend in the near term. At the moment, confidence in the LLDPE market is rather subdued.